Global language learning market leader completes Series C round and secures SEP as new investor
Berlin, 2015-07-08 – Babbel, the leading app for language learning, today announces the successful completion of a $22 million investment round to drive further growth. The round is led by Scottish Equity Partners (SEP) and supported by existing investors Reed Elsevier Ventures, Nokia Growth Partners (NGP), and VC Fonds Technology Berlin managed by IBB Bet.
The investment will add momentum to the company’s impressive growth, while ensuring the continuation of its cutting-edge product development. Babbel has been profitable since 2011, with its mobile app now seeing up to 120,000 downloads per day. As the global highest grossing language-learning app in both the iOS App Store and Google Play Store, Babbel operates a subscription-based business model with a clear focus on consumers outside the realm of formal education. With its recently released app for Apple Watch, the company presents a strong vision for the future of language learning.
“Babbel is defining a new market and revolutionizing the way people learn languages,” says Babbel Inc. President Thomas Holl. “In SEP we’ve gained a high-profile partner that shares our vision of making learning easy and fun for everyone. This investment enables us to fully capitalize on a significant market shift towards self-motivated learning.”
SEP Partner Stuart Paterson, who joins Babbel’s Board of Directors adds: “Babbel sets the standard for online language learning, and its strong international footprint is a reflection of that. We see significant growth potential in this market and are delighted to support the company as it executes its expansion in the Americas.”
Babbel helps people to discover the fun of language learning and motivates them to stick with it. In fact, the average customer continues to use the app for more than 12 months. In order to get users conversational quickly, the company employs a team of education and language experts who create specific courses for each language pair – 14 learning languages and 7 display languages are currently on offer. Babbel is available on the web, for smartphone and tablet, and now for Apple Watch.
Anyone can learn languages – this vision has driven the Babbel team since 2007. The market-leading app for online learning makes it easy to access languages from English to Indonesian either from home, or on the go with a smartphone or tablet. Babbel supports those who discover the joy of independent learning outside of a professional or educational setting. By using Babbel courses in their everyday lives, learners stay motivated over time and use Babbel far in excess of 12 months on average. The premium business model ensures an ad-free experience with the focus remaining squarely on content.
Babbel combines high-quality courses with modern technology. Content is developed specifically for every language and level of difficulty by a professional team of didacts, authors and language teachers. The app is data-driven and constantly learns from input generated by actual use.
Babbel is led by founders Markus Witte (CEO), Thomas Holl (CTO) and Lorenz Heine (Chief Innovation Officer), as well as Markus Corallo (CFO). The company employs a team of over 300 at their headquarters in Berlin. The service is available worldwide at Babbel.com (and on iOS and Android mobile devices), offering courses in 14 languages with seven source languages corresponding to the respective mother tongue of the learner.
More information is available at www.Babbel.com